BNP Paribas is strengthening its London investment banking team

BNP Paribas has made two new hires in London as it looks to strengthen its investment banking team while increasing its client coverage.

John Bigham, a veteran investment banker with over 25 years of experience who previously headed Nomura's natural resources and power for EMEA, joined the French bank as a managing director. He will be handling client coverage for the firm.

BNP also hired Tejus Morland from Barclays, where he was an associate in the UK financial institutions group (FIG) within debt capital markets (DCM).

Bigham began his career as an associate with L.E. K. Consulting in 1992. He moved on two years later to Deutsche where he worked for eight years. His later stints include serving as a managing director for European M&A at Bank of America for four and a half years and heading the advisory business for Standard Bank Group in London for three and a half years. He joined Nomura in 2011.

On the other hand, Morland joined Barclays in 2013 and held various roles including that of a risk analyst before moving into DCM.

BNP's hires come as the French bank struggles to stick to its 2017-2020 business development plan. Under the plan, BNP's corporate and investment bank (CIB) is supposed to increase revenues at a compound annual average rate of 4.5% each year. However, revenues at the CIB have been shrinking. Although BNP ranked first in France for investment banking division with $134 million in revenues for the first half of 2018, according to Dealogic, it ranked 10th in the EMEA with $429 million in IBD revenues.

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